Dublin, Aug. 23, 2023 (GLOBE NEWSWIRE) -- The "Global Specialty Fertilizers Market by Type, Crop Type, Form, Application Method - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The Global Specialty Fertilizers Market size was estimated at USD 36.76 billion in 2022, USD 40.86 billion in 2023, and is projected to grow at a Compound Annual Growth Rate (CAGR) of 11.26% to reach USD 86.39 billion by 2030.
The specialty fertilizer market is progressive with the rising demand due to precision farming technology and protected agriculture that increases the requirement of water-soluble fertilizers, neem-coated urea, fortified fertilizers, and customized fertilizers (CFs). However, the rising prices of micronutrients and customized fertilizers and the limited availability of specialty fertilizer products are challenging for market manufacturers.
Additionally, the increasing advancements in specialty fertilizers with novel product launch strategies and supportive government initiatives to ensure sustainable food production by implementing resilient and skilled agricultural practices are promoting the adoption of specialty fertilizers among farmers. Thereby awareness programs for sustainable farming and food security create the opportunity for the market vendors to invest and reach the maximum consumer base.
The report considers the ongoing political and economic uncertainty in Eastern Europe caused by the Russia-Ukraine Conflict and its potential implications for demand-supply balances, pressure on pricing variants, and import/export and trading. Additionally, the report addresses the impact of High Inflation on the global economy and details fiscal policies measuring and reducing its effects on demand, supply, cash flow, and currency exchange.
Market Segmentation & Coverage:
This research report categorizes the Global Specialty Fertilizers Market in order to forecast the revenues and analyze trends in each of following sub-markets:
- Based on Type, the market is studied across Controlled Release Fertilizers, Customized Fertilizers, Micronutrient Fertilizers, and Slow Release Fertilizers. The Micronutrient Fertilizers commanded largest market share of 38.57% in 2022, followed by Controlled Release Fertilizers.
- Based on Crop Type, the market is studied across Commercial Crops, Fruits & Vegetables, Grains & Cereals, and Pulses & Oilseeds. The Grains & Cereals commanded largest market share of 32.12% in 2022, followed by Commercial Crops.
- Based on Form, the market is studied across Flakes, Liquid, and Powder/Solid. The Powder/Solid commanded largest market share of 52.12% in 2022, followed by Liquid.
- Based on Application Method, the market is studied across Band Application, Broadcasting, Fertigation, Foliar Application, Injection, Seed Placement, Sidedress, Surface Broadcast, and Topdress. The Surface Broadcast commanded largest market share of 22.12% in 2022, followed by Foliar Application.
- Based on Region, the market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. Europe, Middle East & Africa commanded largest market share of 42.12% in 2022, followed by Asia-Pacific.
The report answers questions such as:
- What is the market size and forecast of the Global Specialty Fertilizers Market?
- What are the inhibiting factors and impact of COVID-19 shaping the Global Specialty Fertilizers Market during the forecast period?
- Which are the products/segments/applications/areas to invest in over the forecast period in the Global Specialty Fertilizers Market?
- What is the competitive strategic window for opportunities in the Global Specialty Fertilizers Market?
- What are the technology trends and regulatory frameworks in the Global Specialty Fertilizers Market?
- What is the market share of the leading vendors in the Global Specialty Fertilizers Market?
- What modes and strategic moves are considered suitable for entering the Global Specialty Fertilizers Market?
Market Dynamics
Drivers
- Increasing need for precise and localized application fertilizers to combat nutrient loss
- Growing environmental concerns promoting the adoption of specialty fertilizers
- Rapid adoption of precision farming technology and protected agriculture
Restraints
- High price of the micronutrient fertilizer and customized fertilizers
Opportunities
- Ongoing advancements in specialty fertilizers with novel product launch strategies
- Supportive government initiatives to ensure sustainable food production by implementing resilient agricultural practices
Challenges
- Limited awareness and availability of specialty fertilizer
Companies Mentioned
- Acron Group
- AgroLiquid
- BASF SE
- Bayer AG
- Bioceres Crop Solutions Corp.
- Biomaxnaturals
- Brandt, Inc.
- CF Industries Holdings, Inc.
- Coromandel International Limited
- Deepak Fertilizers and Petrochemicals Corporation Limited
- EuroChem Group AG
- Grupa Azoty S.A.
- Gujarat State Fertilizers & Chemicals Ltd.
- Haifa Negev technologies Ltd.
- ICL Group Ltd.
- J.M. Huber Corporation
- Jordan Phosphate Mines Co. PLC
- K+S Aktiengesellschaft
- Kingenta Ecological Engineering Group Co., Ltd.
- Koch Industries, Inc.
- Kugler Company
- Lallemand Inc.
- Mitsui & Co., Ltd.
- Novozymes A/S
- Nufarm Ltd.
- Nutrien Ltd.
- OCI Global
- OCP Group
- PhosAgro
- Plant Food Company, Inc.
- ProPHOS Chemicals S.r.l.
- Rashtriya Chemicals & Fertilizers Ltd.
- Saudi Basic Industries Corporation
- Sinochem Holdings
- SQM S.A.
- The Mosaic Company
- Valagro S.P.A
- Wesfarmers Ltd.
- Wilbur-Ellis Holdings, Inc.
- Yara International ASA
- Zuari Agro Chemicals Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/bpc2dj
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